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CHAPTER 10

CHAPTER 10. POSITIONING THE MARKET OFFERING THROUGH THE PRODUCT LIFE CYCLE. IPORTANT TOPICS OF THIS CHAPTER. Identify Differentiating Strategies Identifying Positioning Strategies Marketing Strategies Along the Product Life Cycle. DIFFERENTIATION STRATEGY. Product Differentiation: Form:

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CHAPTER 10

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  1. CHAPTER 10 POSITIONING THE MARKET OFFERING THROUGH THE PRODUCT LIFE CYCLE

  2. IPORTANT TOPICS OF THIS CHAPTER • Identify Differentiating Strategies • Identifying Positioning Strategies • Marketing Strategies Along the Product Life Cycle

  3. DIFFERENTIATION STRATEGY • Product Differentiation: • Form: • Size, shape or physical structures. • Features: • Basic Vs advance models. • Performance quality: • Low, average, high and superior: • Conformance quality: • To meet product specifications. • Durability: • Expected life under normal conditions. • Reliability • Style: • Design • Reparability

  4. DIFFERENTIATION STRATEGY (CONT.) • Service Differentiation: • Ordering ease. • Delivery. • Installation. • Customer training. • Customer consulting. • Maintenance and repair. • Miscellaneous services-improved product warranty. • Personnel Differentiation: • Competence, credibility, reliability, responsiveness, and communication. • Channel Differentiation • Image Differentiation: • Symbols, media, atmosphere and events.

  5. POSITIONING STRATEGY • Product Differentiation: • Important. • Distinctive. • Superior. • Preemptive. • Affordable. • Profitable. • Positioning: • Best quality, best service, best price, best value, lowest price, safest, fastest, and most customized in the target market’s mind • Double-benefits positioning: • Safe and durable. • Triple-benefits positioning: • Safe, durable and stylish.

  6. POSITIONING STRATEGY (CONT.) • Positioning errors: • Under-positioning • Over-positioning • Confused positioning • Doubtful positioning. • Positioning decision: • Perceptual Maps: • Attribute positioning • Benefit positioning • Use/application positioning • Use/application positioning • User positioning • Competitor positioning • Product category positioning • Quality/price positioning

  7. Live shows 1.0 0.8 0.6 0.4 0.2 Easy to reach Little waiting Good food Fantasy Educational, animals Exercise Marineland of the Pacific Fun rides Knott’s Berry Farm Japanese Deer Park Disneyland -1.6 -1.4 -1.2 -1.0 -0.8 -0.6 -0.4 -0.2 0.2 0.4 0.6 0.8 1.0 1.2 1.4 1.6 -0.2 -0.4 -0.6 -0.8 Magic Mountain Lion Country Safari Busch Gardens Economical Example of Perceptual Map

  8. Sales & profits ($) Introduction Growth Maturity Decline Time PRODUCT LIFE-CYCLE MARKETING STRATEGIES

  9. Promotion High Low High Price Low STRATEGIES FOR NEW PRODUCT INTRODUCTION Rapid- skimming strategy Slow- skimming strategy Rapid- penetration strategy Slow- penetration strategy

  10. MARKETING STRATEGIES FOR GROWTH STAGE • Improved product quality. • Higher advertising budget. • Entering new market segment. • Improvement of distribution network. • Lowering prices for competitive pressure.

  11. MARKETING STRATEGIES FOR MATURITY STAGE • Market Modification: • Convert nonusers. • Enter new market segment. • Attract competitors’ customers. • Product Modification: • Improvements in product quality, style and futures. • Marketing-Mix Modification: • Prices • Distribution • Advertising • Sales promotion • Personal selling • Services

  12. MARKETING STRATEGIES FOR DECLINE STAGE • Increase investment. • Resolve uncertainties: • stable investment. • Selective niches. • Harvesting: • Quick cash generation. • Divesting: • Disposing the assets as advantageous as possible.

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